{"id":42077,"date":"2023-08-17T11:04:51","date_gmt":"2023-08-17T18:04:51","guid":{"rendered":"https:\/\/goldco.com\/?p=42077"},"modified":"2024-09-03T13:08:35","modified_gmt":"2024-09-03T20:08:35","slug":"is-the-gold-price-flashing-a-buy-signal","status":"publish","type":"post","link":"https:\/\/goldco.com\/is-the-gold-price-flashing-a-buy-signal\/","title":{"rendered":"Is the Gold Price Flashing a Buy Signal?"},"content":{"rendered":"

With everything that\u2019s going on in the world today, it\u2019s no wonder that so many people are nervous about their finances. Since the first bank failures in March, Americans have been moving their money to safety in a way that we haven\u2019t seen in over a decade. And the bad news seems to keep getting worse.<\/p>\n

The US government just saw its credit rating downgraded, numerous large banks are at risk of being downgraded, inflation seems to be ticking upward once again, and recent manufacturing surveys<\/a> are deeply negative. Everything seems to be lining up to give us a major recession, we\u2019re just waiting for the other shoe to drop.<\/p>\n

You would think that with all of that, the gold price would be shooting through the roof. Certainly the price of gold did increase earlier this year in the aftermath of the bank failures. But it hasn\u2019t built on that growth. While some nervous investors may wonder if that\u2019s a sign that gold isn\u2019t the safe haven they thought it was, could this momentary weakness in the gold price mean that this is a good time to buy?<\/p>\n

Deja Vu All Over Again<\/h2>\n

This isn\u2019t the first time we\u2019ve seen this happen to gold in the run up to a crisis. In 2008 gold made great strides in the immediate aftermath of the Bear Stearns crisis. But by the time Lehman Brothers failed in September, gold was falling right alongside stock markets.<\/p>\n

That\u2019s because gold is a highly liquid asset, and anyone owning gold who needs quick cash can sell it quickly to drum up the funds they need. In September 2008, with the financial system seemingly on the ropes, there were a lot of institutional investors who needed money, and a lot of gold was sold to raise that money.<\/p>\n

Gold quickly decoupled and began its resurgence however. By March 2009, gold had once again regained its positive trajectory, with the gold price gaining 25% during the same time period (October 2007 to March 2009) that markets lost over 50% of their value. Could the same thing happen this time around too?<\/p>\n

Certainly it could, and there are undoubtedly some people out there who expect it. But there\u2019s no guarantee that gold will either lose or gain in the coming months. Right now markets seem to be in a wait and see period, waiting to see what the Federal Reserve will be doing with interest rates come September, as well as assessing the economic situation in China right now.<\/p>\n

We\u2019re also in the middle of August, a traditional time of vacation for both the US and Europe. There are probably millions of people right now who aren\u2019t giving a second thought to their investments, as they\u2019re too busy soaking up sun at the beach. But all that could change in just a few short weeks.<\/p>\n

If the next recession ends up being as bad as 2008, this could be the last time that gold is this affordable. In that sense, the gold price is flashing a big \u201cbuy me\u201d sign to those who have been sitting on the fence.<\/p>\n

A lot of people in 2008 were kicking themselves for not having bought gold when it was $400 or $600 an ounce. A lot of people today are probably kicking themselves for not having bought gold when it was $1,300 an ounce a few years ago. Will people end up looking back a year or two from now and kick themselves for not having bought gold when it was $1,900 an ounce?<\/p>\n

Gold\u2019s Performance During Recessions<\/h2>\n

The 2008 crisis wasn\u2019t the only time gold performed well when the economy was down in the dumps. During the 1970s the gold price grew at an annualized rate of over 30% per year. That kind of growth would be phenomenal for a single year, but to keep that up for a decade is simply amazing.<\/p>\n

That growth came in the face of an economy that saw recession, inflation, price controls, oil embargoes, and all manner of hardships. The 1970s were a decade that many would rather forget, but for those who owned gold, it was a great ride.<\/p>\n

How to Protect Your Savings With Gold<\/h2>\n

This kind of performance from gold has many people hopeful that the gold price can repeat that kind of performance in the future. If the US economy faces a crisis like 2008, or if the 2020s end up being a repeat of the stagflationary 1970s, could the gold price perform today as it did back then?<\/p>\n

There must be quite a few people out there hoping for that kind of performance, as gold demand picked up in 2020 and really hasn\u2019t leveled off. Investment demand for gold bars and gold coins has been strong for the past several years, and even central banks have gotten in on the action, buying more gold than they have since the 1950s.<\/p>\n

But you don\u2019t have to be a central bank or even filthy rich to be able to buy gold. You don\u2019t even need huge piles of cash to be able to do it, although there\u2019s certainly nothing stopping you from making a direct cash purchase of gold.<\/p>\n

With a gold IRA<\/a>, you can buy gold using assets from your existing tax-advantaged retirement accounts, such as a 401(k), 403(b), TSP, IRA, or similar account. Funds from these types of accounts can be rolled over or transferred tax-free into a gold IRA, where they can then be used to buy physical gold coins or gold bars.<\/p>\n

You determine the type of gold you want to buy, and your gold IRA custodian will manage it while it\u2019s stored safely and securely in a bullion depository. And when you choose to take a distribution from your gold IRA, you can take it either in cash or in physical gold.<\/p>\n

While gold IRAs have only existed since the late 1990s, they\u2019ve become a popular method of buying gold, especially to protect retirement savings. Goldco has helped thousands of customers benefit from starting a gold IRA<\/a>.<\/p>\n

With over $2 billion in precious metals placements and thousands of 5-star reviews<\/a>, Goldco works hard to ensure that our customers have access to gold options that suit them. Call Goldco today<\/a> to find out more about how a gold IRA can help you safeguard your financial future.<\/p>\n","protected":false},"excerpt":{"rendered":"

With everything that\u2019s going on in the world today, it\u2019s no wonder that so many people are nervous about their finances. Since the first bank failures in March, Americans have been moving their money to safety in a way that we haven\u2019t seen in over a decade. And the bad news seems to keep getting […]<\/p>\n","protected":false},"author":3,"featured_media":42078,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[207],"tags":[897,652,226,241],"class_list":["post-42077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-gold-demand","tag-gold-price","tag-inflation","tag-recession"],"acf":[],"yoast_head":"\nIs the Gold Price Flashing a Buy Signal? – Goldco<\/title>\n<meta name=\"description\" content=\"Despite fears of a recession, the gold price seems to be facing headwinds. 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